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Public company info - Sino-Entertainment Technology Holdings Limited , 06933.HK

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Sino-Entertainment Technology Holdings Limited, 06933.HK - Company Profile
Chairman Sui Jiaheng
Share Issued (share) 400,000,000
Par Currency U.S. Dollar
Par Value 1.0E-4
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: The group is an integrated game publisher and developer in China with a focus on publishing mobile games in the market of China. Performance for the year: The group's revenue increased from RMB107.3 million for FY2017 to RMB151.2 million for FY2018, and further increased to RMB187.7 million for FY2019, representing a CAGR of 32.3%. the group's profit for FY2017, FY2018 and FY2019 amounted to RMB31.5 million, RMB39.4 million and RMB50.5 million, respectively, representing a CAGR of 26.6%. Business Review The group is committed to bringing quality and interactive gameplay experience to game players by drawing upon the group's experience and expertise in the mobile game industry together with the group's sound understanding with the group's publishing partners and game players gained over the years of the group's operations to develop and publish high-quality and well-customised mobile games. the group's Group first commenced its business in 2014 engaging in the sales of computers, computer accessories and electronic products, as well as the development of software and websites in China. the group expanded the group's game development business and started to develop mobile games since 2015 and further tap into mobile games publishing business in 2016, where third party publishers engage us as co-publisher to provide publishing services for mobile games developed by third party game developers. As a co-publisher, instead of acting as a main publisher, the group acts as a sub-contractor to the third party publishers to co-publish the third party games. In 2018, the group also begans to publish the group's self-developed games as the main publisher. The group believes the group's success is attributable to the group's strong capabilities and experience gained from the publishing and development of well-received games. During the Track Record Period, the group has developed and published games in various genres including RPG, SLG and casual games. As a game publisher, the group (i) offer publishing services to the group's publishing partners for third party games; and (ii) publish the group's self-developed games. For co-publishing of third party games, the group normally provides marketing, promotional, distribution and coordination services to third party publishers as co-publisher and assist them to publish their games on various distribution channels, where the group may sometimes obtain exclusive rights from third party publishers to promote and publish games on designated distribution channels. For certain games, the group would also publish and distribute the games on the group's self-operated platform and be responsible for user related services including user log-in, top-up and payment services. As co-publisher of third party games, the group works and negotiates directly with the upstream third party publishers and do not collaborate with the mobile game developers or other publishing service providers engaged by the third party publishers. Occasionally, the group would subcontract some of the group's co-publishing responsibilities to the group's downstream third party publishing partners depending on the publishing work scope and the group's available resources. During the Track Record Period, the group has co-published over 320 third party games through third party distribution channels and the group's self-operated platform as co-publisher, and published two games developed by the group's in-house development team. For publishing of the group's self-developed games, the group enjoys all the proprietary rights of the games and are primarily responsible for publishing or arranging various publishing services, and would often engage downstream third party publishing partners to be responsible for certain parts of the publishing of the games. the group collaborates with these third party publishing partners to formulate the publishing work scope and the respective revenue sharing arrangement. For further details on the group's game publishing business, see “Game publishing” in this section. In addition to game publishing, the group has also engaged in development and sales of customised software and games. Since the commencement of the group's mobile game development in 2015 and up to the Latest Practicable Date, the group had developed 22 proprietary games mainly in the RPG and casual games genres. During the Track Record Period, the group has sold one of the group's self-developed games to a third party game developer and publisher, and published two of the group's self-developed games. the group launched an additional self-developed game in February 2020. As at the Latest Practicable Date, all of the three self-developed games were still in operation. the group targets to launch five self-developed games in each of 2021 and 2022 subject to approval of relevant governmental authorities. In addition to direct sales of the group's self-developed games, the group would also be commissioned by third party game developers and publishers to develop customised software or modify certain third party game contents. The group experienced steady growth in terms of revenue during the Track Record Period primarily due to the group's ability to co-publish an extensive portfolio of mobile games covering a wide range of games genres and the group's success in launching two self-developed games in 2018. the group's initial success in publishing third party casual games as co-publisher in 2016 has led us to further place the group's business direction and focus in co-publishing third party games in the Track Record Period. By increasing capital contribution to the group's Group, accumulating and utilising financial resources the group generated through the group's operations, and expanding extensively the size of the group's publishing team, the group was able to establish solid partnerships with different third party publishers and significantly increased the number and genre coverage of third party games the group co-published since FY2017. Prospects: The group's goal is to further develop and strengthen the group's position in the mobile game development and publishing industry in China. According to the CIC Report, gross billings from publishing self-developed mobile games have increased exponentially from RMB43.5 billion in 2015 to RMB153.8 billion in 2019, and are forecasted to continue growing to RMB382.7 billion in 2024. the group aims to capture the rapidly growing mobile game industry in China by expanding the group's game development capabilities and coverage and increasing the number of the group's self-developed games that the group launchs into the market. In addition, with the development of the overall mobile game industry, the market size of the mobile game co-publishing industry also recorded a growth from RMB25.0 billion in 2015 to RMB94.4 billion in 2019 according to the CIC Report. As such, the group aims to further strengthen the group's publishing capabilities by expanding the group's third party game portfolio and diversify the group's revenue sources by placing the group's business focus on both development and publishing of mobile games. the group plans to achieve this goal by pursuing the following strategies: 1、Enhance the group's game development capabilities and expand the group's game portfolio 2、Strengthen the group's game publishing capabilities 3、Establish an integrated game distribution platform 4、Expand the group's geographic coverage and build international user base

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